Akufo-Addo’s economic incompetence and mismanagement have resulted in mountains of debts - Steve Hanke

Steve Hanke, Professor of Applied Economics at Johns Hopkins University in the United States, has expressed concerns about Ghana's economic management under the leadership of President Nana Addo Dankwa Akufo-Addo.

In a recent Twitter post, Hanke accused the president of economic incompetence and mismanagement, citing mountains of debt, currency depreciation, and high inflation as consequences.

According to Hanke, President Akufo-Addo's administration has overseen a significant increase in the country's debt burden.

Another point of contention raised by Hanke is the depreciation of the Ghanaian cedi, Ghana's national currency. In addition to currency depreciation, Hanke also pointed out high inflation rates in Ghana.

In his Twitter post, Hanke summarized his concerns by stating, 'Ghanaian Pres. Akufo-Addo’s ECONOMIC INCOMPETENCE & MISMANAGEMENT have resulted in MOUNTAINS OF DEBT, WASTED FOREIGN AID, A WORTHLESS CURRENCY, & SKY-HIGH INFLATION.'

Ghana, like many other nations, has grappled with economic challenges exacerbated by the global COVID-19 pandemic."

AM/BB